Check my work 3 During Heaton Company's first two years of operations, it reported absorption costing net operating income as follows: 4 points Sales (@ $64 per unit) Cost of goods sold (@ $35 per unit) Gross margin Selling and administrative expenses* Net operating income Year 1 $ 1,024,000 560,000 464,000 295,000 $ 169,000 Year 2 $ 1,664,000 910,000 754,000 325,000 $ 429,000 eBook $3 per unit variable; $247,000 fixed each year. Print The company's $35 unit product cost is computed as follows: References Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($273,000 = 21,000 units) Absorption costing unit product cost $ 8 11 3 13 $ 35 Production and cost data for the first two years of operations are: Units produced Units sold Year 1 21,000 16,000 Year 2 21,000 26,000 Required: 1. Using variable costing, what is the unit product cost for both years? 2. What is the variable costing net operating income in Year 1 and in Year 2? 3. Reconcile the absorption costing and the variable costing net operating income figures for each year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using variable costing, what is the unit product cost for both years? Unit product cost